Orca Investment Management LLC cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 31,902 shares of the company’s stock after selling 199 shares during the period. The Kraft Heinz Company makes up approximately 3.0% of Orca Investment Management LLC’s holdings, making the stock its 11th largest position. Orca Investment Management LLC’s holdings in The Kraft Heinz Company were worth $2,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Verus Financial Partners Inc. raised its position in The Kraft Heinz Company by 0.4% in the third quarter. Verus Financial Partners Inc. now owns 2,366 shares of the company’s stock worth $212,000 after buying an additional 10 shares in the last quarter. American Research & Management Co. raised its stake in shares of The Kraft Heinz Company by 0.8% in the third quarter. American Research & Management Co. now owns 1,931 shares of the company’s stock worth $173,000 after buying an additional 16 shares during the period. Armbruster Capital Management Inc. raised its stake in shares of The Kraft Heinz Company by 1.2% in the third quarter. Armbruster Capital Management Inc. now owns 1,628 shares of the company’s stock worth $146,000 after buying an additional 19 shares during the period. Putnam FL Investment Management Co. raised its stake in shares of The Kraft Heinz Company by 0.7% in the second quarter. Putnam FL Investment Management Co. now owns 4,240 shares of the company’s stock worth $375,000 after buying an additional 30 shares during the period. Finally, Redmond Asset Management LLC raised its stake in shares of The Kraft Heinz Company by 0.8% in the second quarter. Redmond Asset Management LLC now owns 4,192 shares of the company’s stock worth $371,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 60.70% of the company’s stock.

Institutional Ownership by Quarter for The Kraft Heinz Company (NASDAQ:KHC)

The Kraft Heinz Company (NASDAQ:KHC) traded down 0.54% during midday trading on Friday, reaching $86.95. The company had a trading volume of 945,618 shares. The firm has a 50-day moving average price of $84.61 and a 200-day moving average price of $86.93. The Kraft Heinz Company has a 52 week low of $68.18 and a 52 week high of $90.54. The company has a market capitalization of $105.84 billion, a price-to-earnings ratio of 38.27 and a beta of 0.42.

The Kraft Heinz Company (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.09. The Kraft Heinz Company had a return on equity of 6.40% and a net margin of 10.44%. The business earned $6.27 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The Kraft Heinz Company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts expect that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were paid a $0.60 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $2.40 dividend on an annualized basis and a yield of 2.75%. The Kraft Heinz Company’s payout ratio is presently 105.26%.

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KHC has been the topic of a number of recent analyst reports. Vetr lowered The Kraft Heinz Company from a “strong-buy” rating to a “buy” rating and set a $98.22 price target on the stock. in a report on Monday, September 19th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 target price on shares of The Kraft Heinz Company in a research report on Tuesday, September 27th. Argus raised their target price on The Kraft Heinz Company from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, September 28th. J P Morgan Chase & Co reissued a “focus list” rating on shares of The Kraft Heinz Company in a research report on Tuesday, October 4th. Finally, Susquehanna raised their target price on The Kraft Heinz Company from $114.00 to $118.00 and gave the stock a “positive” rating in a research report on Monday, October 31st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The Kraft Heinz Company has an average rating of “Buy” and a consensus price target of $98.59.

About The Kraft Heinz Company

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

5 Day Chart for NASDAQ:KHC

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